Asset situation
Balance sheet
Balance sheet structure DB AG (HGB) as of Dec 31 / € million | 2023 | 2022 | Change | |
absolute | % | |||
Total assets | 56,275 | 55,004 | +1,271 | +2.3 |
Assets | ||||
Fixed assets | 46,665 | 43,536 | +3,129 | +7.2 |
Current assets | 9,609 | 11,466 | –1,857 | –16.2 |
Accruals | 1 | 2 | –1 | ‒50.0 |
Equity and liabilities | ||||
Equity | 4,132 | 7,918 | ‒3,786 | ‒47.8 |
Provisions | 6,735 | 6,460 | +275 | +4.3 |
Liabilities | 45,361 | 40,580 | +4,781 | +11.8 |
thereof interest-bearing | 41,869 | 38,607 | +3,262 | +8.4 |
Deferrals | 47 | 46 | +1 | +2.2 |
Balance sheet structure DB AG (HGB) as of Dec 31 / % | 2023 | 2022 |
Assets | ||
Fixed assets | 82.9 | 79.2 |
Current assets | 17.1 | 20.8 |
Accruals | 0 | 0 |
Equity and liabilities | ||
Equity | 7.3 | 14.4 |
Provisions | 12.0 | 11.7 |
Liabilities | 80.6 | 73.8 |
thereof interest-bearing | 74.4 | 70.2 |
Deferrals | 0.1 | 0.1 |
DB AG’s total assets had increased slightly as of December 31, 2023.
- Fixed assets were above the level at the end of the previous year. Loans to affiliated companies (€ +2,372 million) also increased as a result of an overall increase in the financial needs of subsidiaries (particularly DB InfraGO AG (formerly DB Netz AG) and DB Fernverkehr AG). Shares in affiliated companies (€ +813 million) increased at DB InfraGO AG (€ +1,125 million) as a result of the passing on of funds from the Climate Action Program, and also in particular at DB Fahrzeuginstandhaltung GmbH (€ +250 million) and at DB Fernverkehr AG (€ +147 million). This was partly offset by the decline in the share in Arriva Investments Limited, Sunderland, United Kingdom, due to valuations (€ –594 million) as a result of the progress in the sales process of DB Arriva.
- Current assets were significantly below the level as of the end of the previous year, particularly as a result of the decline in cash and cash equivalents (€ –1,917 million). The increase in other assets (€ +63 million), particularly in connection with hedging transactions, partially counteracted this impact. Receivables from affiliated companies (€ +20 million) were virtually unchanged. In particular, higher receivables from intra-Group cash pooling (€ +698 million) were almost completely compensated for, among other things, by a decline in receivables from financing (€ –667 million, including profit and loss transfer agreements and short-term loans).
Structurally, this resulted in a slight shift towards fixed assets on the assets side of the balance sheet, which continues to dominate here.
The development on the liabilities side was mainly influenced by liabilities and equity with some offsetting effects.
- Equity developed negatively, driven by the net loss for the year (€ –4,261 million). In contrast, the Federal Government’s equity measure in connection with the Climate Action Program (€ +1,125 million) had a dampening effect.
- Provisions increased slightly. This largely resulted from higher pension provisions (€ +253 million).
- Liabilities increased significantly:
- This was mainly due to the higher liabilities from profit and loss transfer agreements (€ +2,783 million) and increased liabilities to banks (€ +2,009 million) as a result of bridge financing. Liabilities to DB Finance (€ +1,145 million) also increased as a result of continued high issuing activity.
- The decline in liabilities from intra-Group cash pooling (€ –1,506 million) partially counteracted this.
In structural terms, this resulted in a shift, primarily in the direction of liabilities. The proportion of equity decreased.
